Shape Security raises $40 million, lands HPE as partner, investor

Shape Security, which specializes in thwarting automated attacks, has raised $106 million to date. With HPE, the company plans to expand globally.

Shape Security, which specializes in security as a service for applications, said it has raised another $40 million in venture funding in a round that included Hewlett Packard Enterprise.

The series D funding for Shape Security brings the company's total funding to $106 million. HPE's investment came via its Hewlett Packard Pathfinder fund. Other investors included EDBI, Baseline Ventures, Kleiner Perkins Caufield & Byers, NVP, Venrock, Google Ventures, Eric Schmidt, and Northern Light Ventures.

Since its initial launch in 2014 Shape has grabbed traction in the enterprise for its application defense technologies and counts airlines, banks, and hotels as key customers. The company's technology is designed to thwart automated attacks and to evolve to keep defenses strong.

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Shape launched a mobile security tool in January.

According to the company, the funding will be used to expand internationally. HPE's expertise will come in handy given that Shape wants to expand in Asia. HPE will sell Shape's tools in Asia and throughout its global customer base.

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